RCCL Refunds are they running out of money?

[Suncoastsailors]

I booked a cruise Feb 14 2021

 and realizing I made a mistake called within 15 minutes to cancel. I was told 45 days and have waited the 45 days with no refund. Called today and was told it would take another 2 weeks. Times have been tough with the pandemic , but this is not acceptable.  This makes me wonder if RCCL is running out of money to make refunds. When you need to take in new money/reservations to pay off old refunds owed it is called a pyramid scheme. Is this what things in the cruise industry have become. You may want to consider this when you make a new reservation especially with RCCL.  

 

Edited March 30, 2021 by Suncoastsailors

[firefly333]

Because your refund was late, you accuse them of a pyramid scheme and running out of money?  Seems a bit extreme. 

 

They sold some stock when it was over $90 a share and good for some time in the future. 

[neverbeenhere]

60 days refund - give or take a week or two. That's pretty quick considering refunds received in the last year. I'm not thinking the definition is quite right.

[cruisinfanatic]

1 hour ago, Suncoastsailors said:

I booked a cruise Feb 14 2021

 and realizing I made a mistake called within 15 minutes to cancel. I was told 45 days and have waited the 45 days with no refund. Called today and was told it would take another 2 weeks. Times have been tough with the pandemic , but this is not acceptable.  This makes me wonder if RCCL is running out of money to make refunds. When you need to take in new money/reservations to pay off old refunds owed it is called a pyramid scheme. Is this what things in the cruise industry have become. You may want to consider this when you make a new reservation especially with RCCL.  

 

Mine took a week

You sure post here a lot to be throwing the company under the bus

[Pandamonia]

Keeping your money for 60 days is criminal imo.

 

Id have called the credit card company and charged back. I did this to an airline and had money back in 7 days. 

[ONECRUISER]

Nope, Refunds in 2-3 weeks for me from last Summer including last Month. Yes exceptions but many reporting on here having same luck

[Tree_skier]

All my refunds have been 10 days of less.  Now my FCC's that is another story.

[pcur]

2 hours ago, Suncoastsailors said:

I booked a cruise Feb 14 2021

 and realizing I made a mistake called within 15 minutes to cancel. I was told 45 days and have waited the 45 days with no refund. Called today and was told it would take another 2 weeks. Times have been tough with the pandemic , but this is not acceptable.  This makes me wonder if RCCL is running out of money to make refunds. When you need to take in new money/reservations to pay off old refunds owed it is called a pyramid scheme. Is this what things in the cruise industry have become. You may want to consider this when you make a new reservation especially with RCCL.  

 

RCCL is not running out of money.  They just refunded me over $11,000 two weeks ago.  They are up to their ears in all this refund, FCC, Lift and Shift, etc., mess.

[dswallow]

If you canceled so quickly after booking, you're well within the time to just call your credit card company and explain what happened and dispute the original charge.

[smokeybandit]

Booked, paid for the entire thing, then changed your mind 15 minutes later?

 

 

[Smiles1984]

I just had a refund processed in under 14 days. Most banking partners limit how many transactions can be processed in a single batch and their system should never have been designed to process these volumes of refunds, logically they'll have put in place a system that allocated priority based on multiple criteria. 

 

Your refund is coming, and processing times are (on the whole) improving.

[Suncoastsailors]

55 minutes ago, cruisinfanatic said:

Mine took a week

You sure post here a lot to be throwing the company under the bus

I post a lot?

[Suncoastsailors]

Nice that so many of you got your refund in less time. I did not and have not. Those who believe in the financial stability of RCCL go ahead and keep giving them your money. Maybe they can use it to pay back my refund.

Edited March 30, 2021 by Suncoastsailors

[Tree_skier]

9 minutes ago, Suncoastsailors said:

Nice that so many of you got your refund in less time. I did not and have not. Those who believe in the financial stability of RCCL go ahead and keep giving them your money. Maybe they can use it to pay back my refund.

I'm confused by your original post.  There just isn't enough info to give you advice. Did you actually pay for your cruise in full when you booked it or did you just the deposit? You said it was an error. Did you not mean to book? Did you book the wrong cruise/date? Was it a refundable fare? Have you contacted your CC company and put a dispute in?

[Suncoastsailors]

1 hour ago, neverbeenhere said:

60 days refund - give or take a week or two. That's pretty quick considering refunds received in the last year. I'm not thinking the definition is quite right.

You may be right maybe it is more of a Ponzi scheme.

[Suncoastsailors]

2 minutes ago, Tree_skier said:

I'm confused by your original post.  There just isn't enough info to give you advice. Did you actually pay for your cruise in full when you booked it or did you just the deposit? You said it was an error. Did you not mean to book? Did you book the wrong cruise/date? Was it a refundable fare? Have you contacted your CC company and put a dispute in?

I booked and paid deposit. Yes booked wrong cruise. Refundable within 24 hours. Called for refund immediately. No need to dispute charges unless refund does not come within the next two weeks. Just very upset that RCCL knowing the made a mistake with my refund would make me wait another 14 days. 

[taglovestocruise]

20 minutes ago, Suncoastsailors said:

Nice that so many of you got your refund in less time. I did not and have not. Those who believe in the financial stability of RCCL go ahead and keep giving them your money. Maybe they can use it to pay back my refund.

They have plenty of cash on hand. As evidence of the strong interest, Royal Caribbean highlighted a 30 percent increase in cruise bookings since the first of the year versus November and December 2020. The company reported that bookings were “aligned with expectations,” for the second half of 2021 and at higher prices compared to 2019. While about half the consumers with canceled trips in the quarter took cash refunds, they reported that they had been able to offset the cash outflow with 75 percent of the bookings made since the last update coming as new bookings. As for the end of the year, the company had $1.8 billion in customer deposits.

Since the onset of the pandemic, the Royal Caribbean Group raised over $9.3 billion plus deferring debt.  The CFO, however, believes that the company still has significant additional debt capacity. As of the end of 2020, the company had $3.7 billion in cash on hand while it expects its cash burn to continue to range between $250 to $290 million a month, giving the company nearly a year’s worth of cash without additional financing. The CFO also stated an additional cash infusion of 1.5 billion would be easy to attain at year end 2021 if needed. 

 

[Suncoastsailors]

1 hour ago, taglovestocruise said:

They have plenty of cash on hand. As evidence of the strong interest, Royal Caribbean highlighted a 30 percent increase in cruise bookings since the first of the year versus November and December 2020. The company reported that bookings were “aligned with expectations,” for the second half of 2021 and at higher prices compared to 2019. While about half the consumers with canceled trips in the quarter took cash refunds, they reported that they had been able to offset the cash outflow with 75 percent of the bookings made since the last update coming as new bookings. As for the end of the year, the company had $1.8 billion in customer deposits.

Since the onset of the pandemic, the Royal Caribbean Group raised over $9.3 billion plus deferring debt.  The CFO, however, believes that the company still has significant additional debt capacity. As of the end of 2020, the company had $3.7 billion in cash on hand while it expects its cash burn to continue to range between $250 to $290 million a month, giving the company nearly a year’s worth of cash without additional financing. The CFO also stated an additional cash infusion of 1.5 billion would be easy to attain at year end 2021 if needed. 

 

If they are so rich with cash then why wait 45-60 days for refunds? Why sell cruises they know will be cancelled? Why delay official cancellation for cruises they know are cancelled? Why do they often delay cancellation until after final payment? Borrowed money in your bank account does not make you wealthy. They are using future cruise deposits to pay refunds on cancelled cruises. While they hold onto refund money as long as customers will tolerate. 

[Goodtime Cruizin]

Mistakes happen. You'll get you money back. So just go on ahead and book the correct cruise.

[Goodtime Cruizin]

6 minutes ago, Suncoastsailors said:

If they are so rich with cash then why wait 45-60 days for refunds? Why sell cruises they know will be cancelled? Why delay official cancellation for cruises they know are cancelled? Why do they often delay cancellation until after final payment? Borrowed money in your bank account does not make you wealthy. They are using future cruise deposits to pay refunds on cancelled cruises. While they hold onto refund money as long as customers will tolerate. 

 

Somebody aint happy. And...well that didn't take long. Each of your posts escalated to a full on fuss. 

[HUNKY]

I hope you have it in writing, or screenshots, that you can get an actual refund of your deposit.  I can't find that.  I only see a future cruise credit less a $100 per person service fee.

 

Best of luck!  I'd start a chargeback on my credit card if I was you.  Remember to keep copies of all documentation.

[ONECRUISER]

1 hour ago, Suncoastsailors said:

If they are so rich with cash then why wait 45-60 days for refunds? Why sell cruises they know will be cancelled? Why delay official cancellation for cruises they know are cancelled? Why do they often delay cancellation until after final payment? Borrowed money in your bank account does not make you wealthy. They are using future cruise deposits to pay refunds on cancelled cruises. While they hold onto refund money as long as customers will tolerate. 

Business practice, they all do it. Welcome to the real World. As you assume they are doing illegal things with your money, I assume you are never Cruising with them again.

Edited March 31, 2021 by ONECRUISER

[jrapps]

I've been waiting about 6 months for one of my refunds....I think the fastest I got one was about 2 months, one took about 9 months. No matter how often I call, they can't seem to figure out how to fix it.

[Saab4444]

I am waiting for 11 months for a refund from MSC and they still order many new ships...

[Beth 2001]

I canceled a four-bedroom Villa Suite booked through my TA back in January and have only received refunds for two passengers and FCCs for four. Still waiting on refunds or credits for the remaining four passengers (which ironically includes DH and me, who paid for everyone else). Not sure why some passengers are getting refunds and others are getting FCCs. All 10 passengers were booked at virtually the same time (8 one day, then 2 the next) when bookings opened back in October 2019. The four who received credits are the least likely to sail so needless to say this experience has been very confusing and frustrating!